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11085 Harmon Road

Newmark Brokers Sale Of 267,280 SF Industrial Property In Fort Worth
SOLDIndustrial

Newmark Brokers Sale Of 267,280 SF Industrial Property In Fort Worth

11085 Harmon Road

Building Size

267,280 SF

Asset Type

Industrial

Closing

Jun 7, 2024

AI

The industrial property involved in the transaction is DFW Point35 — Building 1, located at 11085 Harmon Road in Fort Worth. The property spans 267,280 square feet and was constructed in 2023. It is currently fully leased to GITI Tire.

Summary of transaction details:

Newmark facilitated the sale of the industrial property. The buyer's identity has not been revealed, while the seller was represented by a partnership between Stonemont Financial Group and Iron Point Partners. The presence of these key individuals and companies underscores the significant role each played in the successful completion of the transaction.

Players

Stephen Bailey

Newmark

Broker

$323.3M

vol

48 deals

Broker

Fort Worth Industrial Market Snapshot

Boundary boundary · Industrial · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

5.80%

Cash-on-Cash

-1.66%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93